Construction costs – for both big projects and home renovations – have risen due to a rise in raw material prices and labour costs. And they are expected to increase even more this year.

Industry experts say overall construction costs are expected to rise by another 15 to 20 per cent this year – following a 40 per cent spike in the last two years.

A global spike in raw material prices, and a construction resources and manpower crunch here, are to blame for the relentless rise, say market players.

In particular, prices of reinforcing steel bars – used extensively in construction – have soared 64 per cent from $753 per tonne in January last year to $1,235 this January, according to data from the Building and Construction Authority (BCA).

Rising global demand for steel, fuelled by a building boom in developing countries such as China, India and Vietnam, is pushing prices up sharply.

The price of cement rose 30 per cent to $117 per tonne in the same period.

Consumers’ pockets are hard hit by the price hikes. Contractors say home owners now have to fork out up to 20 per cent more for renovation works.

Renovating a 110 sq m five-room HDB flat, for example – which would have cost $80,000 at most at the start of last year – would now mean forking out $100,000, said contractor Steven Koh, 51, of Colorado Design.

Considering that was almost 4 years ago, I guess renovation costs would have gone up even more than what was mentioned in the article since Singapore experienced fairly significant inflation the last few years.

Random musings

- To-do list: Get picture/gallery tracks
- Number of LEGO sets opened and built: Lost count!
- Instant noodles eaten: Lost count!
- Pictures/paintings hung: One
- Plants killed: Three

Don’t ask me about my reno or items cost…

I will not entertain any questions on renovation cost/quotation or furnishing cost. I honestly don't remember the details of pricing for the stuff I got and it's outdated anyway. Do a search and if I've mentioned where I got the item from, please call the store to check the latest pricing.

Hi there! Love your blog,it's very informative! I'm looking for Scandinavian furniture for my new home, any furniture stores that are able to do customisation for sofa as well? Let me know if you do have any stores to recommend. Have a great day!